FOUNDER

William Rance King, Jr.,President

RK Properties was founded in 1976 by William Rance King, Jr. (RK) after a ten year history in business machines for a Fortune 500 company. He started as a salesman in Long Beach California and quickly rose thru the ranks, as a branch manager in the Bay area he was a pioneer in developing and marketing early style computers that were sold to a variety of industries but he primarily focused on commercial real estate. By the time he became National Director of Sales, he had already purchased his first few apartment buildings, which was the inception of what would become RK Properties. In the beginning he continued to purchase small apartment buildings with a close group of business associates and friends and they were structured as TIC investments. This eventually evolved into the limited partnership business, then into Limited Liability Corporations. In 1994 RK Properties structure its first ‘securitized Reg D TIC program, and that continued to be the main investment structure until 2017 when the DST became the structure of choice. Over the past 42 years, RK Properties has syndicated 150 properties and had 131 properties go full cycle. A ‘track record’ of success that simply does not exist with any other sponsor in our industry. Today RK Properties is a regional sponsor having completed programs in the 5 Western States plus Florida, Georgia and North Carolina. The focus is on A/B multifamily communities in dynamic areas. RK has a large presence in Phoenix, Las Vegas and Atlanta with regional property managers based in all three. The DST structure is property specific and allows for both TIC and straight individual investments. Thus there is no longer a need for ‘funds’ to accommodate individual investors. The structure requires no bank approval for each investor and allows for an exchange to be completed for a TIC selling a down leg in a matter of days. Between December 2017 and July 2018, RK Properties sold 7 buildings and purchased 3 for a total volume of $350MM. 2019 will be equally dynamic with 5 to 6 properties planned to be sold and at least 3 purchases depending on size. The DST structure has allowed RK to purchase larger buildings which are more cost effective to operate.